US Democratic lawmakers introduce bill to crack down on prediction markets

Source: msn/Reuters

12h


WASHINGTON, March 17 (Reuters) - U.S. Democratic lawmakers Senator Chris Murphy and Representative Greg Casar on Tuesday introduced a bill to ban prediction market bets on military operations and other sensitive government actions, increasing pressure on the fast-growing markets.

The bill is one of several competing efforts on Capitol Hill to rein in prediction markets, after well-timed bets ahead of the U.S.-Israeli air strikes in Iran and Venezuela operations stoked concerns over the legality and ethics of such trades.

Here are some details:

* The bill is called Banning Event Trading on SensitiveOperations and Federal Functions (BETS OFF) Act.
* It would ban wagering on government actions, terrorism,war, assassination, and events where an individual knows orcontrols the outcome.

Read more: https://www.msn.com/en-us/news/us/us-democratic-lawmakers-introduce-bill-to-crack-down-on-prediction-markets/ar-AA1YQw90